During the week ending May 25, Chinese export offer prices for
rebar and
wire rod have indicated a downward trend. At present, boron-added
rebar offers to Southeast Asia given by Chinese suppliers are at $335-345/mt FOB, while boron-added
wire rod offers from Chinese suppliers to the same destination are at $355-365/mt FOB.
Currently, since oversupply exists in the Chinese domestic
rebar and
wire rod market, exporters have lowered their prices in order to stimulate sales. Meanwhile, approaching the hot summer offseason in
China, domestic demand will be slacker in the coming months. It is expected that
rebar and
wire rod export offer prices from
China will likely continue their downward movement in the coming week.